The Housing Market in Zionsville Today
Zionsville’s housing market in 2025 is shaped by its proximity to Indianapolis and its highly-rated schools, which attract families looking for a suburban lifestyle. As a growing town with a population around 30,000, Zionsville has seen steady demand for both single-family homes and rental properties.
Compared to nearby cities like Carmel and Fishers, Zionsville offers a small-town charm with a quaint downtown village area. However, this appeal comes with higher housing costs than the Indianapolis metro average. The town’s zoning laws favor single-family homes, leading to limited apartment options and higher rents than some neighboring communities.
Major employers in the area, such as Eli Lilly and Salesforce, drive demand from professionals seeking a suburban home within commuting distance. This, combined with the desirable school system, has kept Zionsville’s housing market competitive even as mortgage rates have risen in recent years.
Renting in Zionsville: Typical Costs and Trends
As of 2025, the average rent for a 1-bedroom apartment in Zionsville is around $1,200 per month, while a 2-bedroom typically goes for $1,500 or more. These prices are about 20% higher than the Indianapolis metro average, reflecting the limited apartment supply in Zionsville.
Most renters in Zionsville are young professionals, often working in downtown Indianapolis or the northern suburbs. The town’s few apartment complexes are concentrated along the Main Street corridor and near the I-465 interchange, offering easier access to commuter routes.
For those looking for more affordable rents, nearby towns like Whitestown and Lebanon may offer lower-priced options, though with a longer commute. Within Zionsville, the Quail Run Apartments and Zionsville Apartments communities have some of the most affordable rates, averaging around $1,100 for a 1-bedroom.
Owning a Home in Zionsville: Prices, Taxes, and HOA Fees
The median home price in Zionsville as of 2025 is approximately $450,000, well above the Indianapolis metro median of $300,000. However, property taxes are a significant factor that catches some new homeowners off guard. Boone County, where Zionsville is located, has a property tax rate of around 1.5%, among the highest in the state.
For a $450,000 home, that equates to $6,750 in annual property taxes, or over $560 per month. This is on top of mortgage payments, which average around $2,500 per month for a typical home purchase in Zionsville.
Many neighborhoods in Zionsville also have Homeowners Association (HOA) fees, which cover common area maintenance, landscaping, and amenities like pools or fitness centers. HOA fees in Zionsville typically range from $200 to $400 per month, depending on the community and amenities. For high-end neighborhoods like Stonegate or The Enclave at Stonegate, HOA fees can reach $500 or more per month.
Apartment vs House in Zionsville: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,500 | $2,500 |
| Property Tax | N/A (included in rent) | $560 |
| Utilities | $150 | $300 |
| Insurance | $20 (renters) | $100 (homeowners) |
| HOA Fees | N/A | $300 |
| Maintenance & Repairs | N/A | $200 |
| Monthly Total | $1,670 | $3,960 |
Utility & Upkeep Differences
Utility costs are generally higher for houses in Zionsville due to the larger square footage and the need for more extensive heating and cooling. The average monthly utility bill for a 2-bedroom apartment is around $150, while a 3-bedroom house typically runs closer to $300 per month.
Houses also come with additional upkeep expenses like landscaping, snow removal, and general repairs that are typically covered by apartment complexes or HOA fees. Homeowners should budget at least 1-2% of their home’s value annually for maintenance and repairs, which can add hundreds of dollars to the monthly cost of ownership.
5-Year Rent vs Buy Outlook
Over a 5-year period, buying a home in Zionsville is likely to be more expensive than renting, even with modest home price appreciation. Assuming a 2-bedroom apartment rent of $1,500 per month and a 3-bedroom home purchase at $450,000, the total cost of renting over 5 years would be approximately $90,000, while owning would cost over $200,000 (including mortgage payments, property taxes, insurance, HOA fees, and maintenance).
However, this calculation doesn’t account for the potential equity gained through homeownership. If Zionsville home prices appreciate at a rate of 3% per year, a $450,000 home would be worth nearly $520,000 after 5 years, potentially offsetting some of the higher costs of ownership.
Ultimately, the decision to rent or buy in Zionsville depends on individual financial circumstances and long-term goals. Use our Sample Monthly Budgets for Zionsville in 2025 to see how housing costs fit into the bigger picture of living expenses in the area.
FAQs About Housing Costs in Zionsville
- What is the average property tax rate in Zionsville? The property tax rate in Boone County, where Zionsville is located, is around 1.5% as of 2025. For a $450,000 home, that equates to $6,750 in annual property taxes.
- How much are typical HOA fees in Zionsville neighborhoods? HOA fees in Zionsville range from $200 to $500 per month, depending on the community and amenities. High-end neighborhoods like Stonegate can have HOA fees of $500 or more.
- Are utility costs higher for houses or apartments in Zionsville? Houses in Zionsville generally have higher utility costs due to larger square footage and greater heating/cooling needs. The average utility bill for a 2BR apartment is around $150/month, while a 3BR house is closer to $300/month.
- Is it cheaper to rent or buy in Zionsville over a 5-year period? Renting is likely cheaper than buying in Zionsville over a 5-year timeframe. Renting a 2BR apartment would cost around $90,000 total, while owning a median-priced home would be over $200,000 including mortgage, taxes, insurance, and upkeep.
Making Smart Housing Choices in Zionsville
Housing costs in Zionsville are significantly higher than the Indianapolis metro average, whether renting or buying. Property taxes and HOA fees can add hundreds of dollars to the monthly cost of homeownership, while limited apartment options keep rents elevated.
For those considering a move to Zionsville, it’s essential to weigh the town’s high-quality schools, safe neighborhoods, and charming atmosphere against the steeper housing expenses. Our guide to the Cost of Living in Zionsville provides a comprehensive look at how housing fits into the broader budget picture, from groceries to transportation.
If the costs of buying a home in Zionsville are out of reach, renting may be the more practical option, particularly for those who may relocate within a few years. Neighboring towns like Whitestown and Lebanon offer more affordable alternatives for those willing to commute.
No matter your housing choice, be sure to budget for the full range of expenses, from utilities and maintenance to moving costs. Our guide to comparing moving company costs can help you plan for the transition.
Ultimately, while housing costs in Zionsville are undoubtedly high, many residents find the quality of life worth the premium. By understanding the full scope of expenses and planning accordingly, you can make an informed decision about whether Zionsville is the right fit for your budget and lifestyle.